Hyderabad developer ordered to refund Rs 10.95 lakh to plot buyers

As the developer did not appear before TG RERA despite receiving notices, the proceedings were conducted ex parte.

Hyderabad: The Telangana Real Estate Regulatory Authority (TG RERA) has directed Hyderabad-based BVR Infra Developers to return Rs 10.95 lakh to two plot buyers.

This comes after the buyers paid the full amount but did not receive the plot or a registered sale deed.

Moreover, TG RERA directed its secretary to start penalty proceedings against the developer for selling plots in SV Golden City-III at Kadthal in Rangareddy district without mandatory RERA registration.

Hyderabad plot buyers paid full amount to developer

It all started after the complainants, M Sheela and Padma Sreeramulu, decided to purchase Plot No. 28 in the venture for Rs 10.95 lakh.

Between August and December 2022, they paid the full amount in five cash instalments. On February 13, 2024, they signed an agreement of sale.

Even after receiving the entire amount, the developer allegedly failed to complete the project, register the sale deed, or hand over possession of the plot.

Project lacked mandatory RERA registration

In SV Golden City-III, BVR Infra Developers, promoted by managing partner B Venkateswarlu, had planned 85 residential plots. It had also secured tentative layout permission from the Directorate of Town and Country Planning (DTCP).

However, the venture had not been registered with RERA.

Following the complaint by the plot buyers, the proceedings were conducted.

As the developer did not appear before TG RERA despite receiving notices, the proceedings were conducted ex parte.

30-day refund deadline

After hearing the complaint, TG RERA ordered the developer to refund Rs 10.95 lakh to the Hyderabad plot buyers.

It has also ordered that annual interest of 10.7 per cent from the dates of payment until the money is refunded must be paid.

The amount has to be refunded within 30 days. Further action will be taken under Section 63 upon failure to meet the 30-day deadline.